"I created Profit Acceleration Software™ so you can BOOST bottom-line profits using the power of compounding growth without spending more on marketing."- Karl Bryan
One Thing: Day 1085: Taxes. You. Coaching. Fees.
Yesterday I was explaining how the Universe said, ‘I have to make you uncomfortable otherwise you’ll never move from what is no longer for you’ as well as what the nurse asked Dave after the Doctor walked out after his prostate exam.
Speaking of asking who was that…
As an entrepreneur…
At some point you will find someone who is totally obsessed with you and wants all your time.
That someone is your lowest paying client.
In other news…
Be a lamp, or a lifeboat, or a ladder. ~ Rumi
Anyhoo…
Your one PROFIT ACCELERATION THING today is:
‘Your Taxes’
Poor people whine about taxes and then pay them… rich people study / learn / discuss taxes and hardly pay them.
As a business coach, your goal is to always be a profit center… here’s a quick, easy way to pay your way starting on Day 1.
1. Assuming your client works from home a portion of the time, a percentage of their home expenses can be deductible (their office needs a bathroom, kitchen, entrance, garbage area, garage parking spot, storage… not to mention toiletries, snacks, computers, laptops, furniture, desks, garbage cans, vehicles, paint etc…).
2. If they have a party at their house and invite you, their clients, prospects, employees, colleagues etc…
3. They can pay their children $12,000 per year tax free.
4. ROTH IRA limit is over $6,000 and can grow tax free.
5. Their SEP IRA allocation can be over $60,000.
6. Filing as an S-Corp rather than an LLC will save a bundle.
7. Use cash for tax write offs and use frequent flyer miles / points for things that you can’t write off.
* Speak to a local accountant or tax specialist prior to doing anything above.
** If the 7 points above are of interest… look up the Augusta Rule (for you and your clients).
*** The above is NOT tax advice and could get you sent to jail.
**** Buy my book ‘Accounting 101 of Business Coaches’
You heard it here first.
Now, pick up the phone and go help someone.
Obsessed with your business coaching success,
Karl Bryan
Founder, Focused.com
PS. You can get lucky and make it… you can’t get lucky and keep it.
PPS. If this helps and you want it to really sink in… GO TEACH IT to someone cause that’s the best way for you to learn it. A friend, your spouse, a prospect, a client etc…
*Don’t plagiarize my work like a lame arse.
PPPS. Marriages break up from lack of money… over lack of love X 100. Business failures lead to destruction, addiction, depression, anxiety, suicides, and unfortunately, far more.
As good business coaches, we save marriages, save families, save kids from self-destruction… we save lives!
A true life of purpose.
PPPPS. If you’re looking for a proven system to follow for your coaching…. I created Profit Acceleration Software™ and high-end step-by-step training to support it…
We did a training that will teach you ‘A strategy that can DOUBLE your clients’ bottom-line profits using exponential growth without spending more on marketing.
Imagine finding your high-ticket coaching fees BEFORE you start coaching your new clients?! And a proven coaching system created for you to follow with your new coaching client.
Access the free training here
PPPPPS. Forward this to someone that needs to subscribe to my daily emails and get a limited-time, complimentary subscription to my business coaching magazine go here:
https://thesixfigurecoach.com/
PPPPPPS. They tell me my Podcast is Ric Flair style, Money Makin, Client Getten, Joint Venture Landing, Event Fillin, High-End Coaching Client Findin Gold For Business Coaches.
Karl Bryan, Creator of Profit Acceleration Software™
Karl Bryan gets clients for Business Coaches...period. He is the Founder of The Six-Figure Coach Magazine and creator of Profit Acceleration Software™ that shows you how you can BOOST bottom-line profits of any business using the power of compounding growth without spending more on marketing. His goal is straightforward… to help coaches and consultants get more clients.
Get a demo of Profit Acceleration Software™ at focused.com.